Coronavirus effect: Rs 481 crore withdrawn from PF accounts
Updated : April 21, 2020 06:44 AM IST
Finance minister Nirmala Sitharaman in a press conference on March 26 said that EPFO subscribers could withdraw 75 percent of balance or three month wages as non-refundable advance, whichever is lower.
The new rule was notified in view of the ongoing outbreak of the coronavirus pandemic and the subsequent lockdown to counter its spread.
In less than 10 days of the notification of the new rule, about 1 lakh people had applied to withdraw funds from their accounts.